The Policy on Cash Advance for International Operations provides support and guidance for those international operations for which neither a travel advance nor direct payment of various expenses may be practical. This option may only be used with departmental approval. Specific documentation requirements apply.
The start-up of an international activity will often involve using foreign currency and U.S. dollar transactions. University departments must track and budget for currency fluctuations (FX rates), which in some countries may change significantly on a daily basis. This may add transactional costs during start-up, especially for units lacking bank accounts in the host country.
Cash Management & Operations can help to strategize ways to transmit (or transport) funds to the host country, and Procurement Services can assist with payment and reimbursement rules, including this new policy.
If a Cash Advance for International Operations is not feasible, payments in-country might be handled:
→ By another Columbia unit already established in that country;
→ Through a collaboration agreement with a partner with established local presence; or
→ Through direct University payments.
The Managing Financial Needs section include additional details regarding purchasing card (p-cards), checks, wire transfers, and local bank accounts.
For additional information on the Columbia reimbursement policy and documentation requirements, refer to the Travel and Business Expense Information section of Procurent Services.